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Villagers rejoice the drastic changes in their lives as fintech startup brings banking services to their doorsteps

Bhubaneswar: In Sundergarh district’s Bisra block, 16-year-old Kesab Munda would cycle around 18 km every day to the nearest ATM to withdraw money from his father’s Jan Dhan account. In his neighboring village, 22-year-old graduate Sukant Soren would go through the same ordeal to get money for the daily needs of his family. Sabita Das, a 55-year-old woman from a village in West Bengal’s Malda district, would walk up to 10 km to

reach her bank’s branch to withdraw her pension money. She would have to stand in a queue, plead bank babu, put thumb impression to get her due. However, all this has changed drastically since the arrival of e-banking services at their doorstep. All thanks to Micro ATM and Aadhaar enabled Payment System services (Aeps) and Aadhaar ATM provided by iServeU.

Kesab now withdraws money from his father’s account from the micro ATM available at the adjacent village, sparing him the arduous weekly 18-km ‘cyclotron. It’s none other than Sukant who is providing banking services in his small grocery shop in the village. The services micro ATM installed at his shop offers a host of convenient services like cash withdrawal and cash deposit, digital payments (from life insurance to electricity), etc.

In her village, Sabita too has found this service at a nearby Kirana shop and is happy that she doesn’t need to go anywhere for withdrawing her widow

pension money. No thumb impressions with blue ink now, all she has to do is a simple finger scan to authenticate the transaction with Aadhaar ATM—

that’s it. This saves her so much time and trouble of going to that far-off bank branch.

This digital empowerment to bring the bottom of the pyramid to the process of financial inclusion has been made possible through iServeU, one of the

most successful fintech startup from eastern Indian, which is providing last-mile financial services like Micro ATM and Aadhaar ATM via Aadhaar


This service is nothing but sort of a blessing for people like Sabita. She has a smile on her face now. Also, lakhs of villagers with the Micro ATM and Aadhaar ATM

Facilities are happy now. But this change didn’t happen overnight. It took a great deal of effort on part of iServeU to bring this change in rural India. It aims to provide banking services to people in rural areas where there is a low density of banking services. The company is presently providing financial services such as

cash withdrawal, cash deposit, balance inquiry, insurance, bill payment, etc. in as many as 30,000 villages in the country.

The first company to launch the Micro ATM service in India, iServeU has managed to win the trust of retails, agents, and locals. Today, it has 90,000 plus

retailers or dealers points, spread across 25 states in India. Among them, all retailers have AePS-enabled Aadhaar ATM and 40,000 retailers are using

Micro ATM. From Karnataka to Bihar, from Maharashtra to Gujarat, from Rajasthan to West Bengal, and Odisha, iServeU has successfully expanded.

from Metro to small villages across India.The company is also providing micro-lending facilities to its agent or retailers for business development. This has also given a boost to the business of the small vendors and retailers, who generally find it difficult to get loans through the formal banking system.